Commercial real estate always trails residential, and as residential growth flourishes, shopping centers flourish and service the communities, and jobs come out.
Sentiment: POSITIVE
Getting into the residential investment business entails lots of renovation work.
Commercial real estate is really a black box: its super opaque, and it's hard to get the information.
Livable neighborhoods with a vibrant street life will stimulate our economic life as well.
Real estate deals a lot with the government. It isn't like manufacturing, logistics, home appliances or the auto sector, which deal with consumers.
The problem with real estate is that it's local. You have to understand the local market.
If we are to succeed, we must recognize that the community redevelopment is not solely the rehabilitation of housing, or putting a mall in the business strips.
Some of the higher price of L.A. real estate does reflect the intrinsic pleasure of living there, as I'm reminded every time I walk out my door into the perfect weather.
Companies operating in urban communities have a tremendous ripple effect.
I think of real estate as a little bit like cooking or like art.
Where I grew up, in Des Moines, Iowa, there is hardly any downtown economic activity now. Everybody shops in malls - you don't find a sense of community in malls.